Entering the market and submitting offers

[Adi Jacob]

Hey everybody!

Thanks in advance for any feedback.

Due to where we are in the market currently, I'd like to begin sending out LOIs to get a feel of the market.

I have 500k available and looking for a small multi-family in good location east of I-95, Hollywood down to South Miami.

How should i go about it? Get a buyer's agent to submit offers or send LOI's myself directly to the sellers agent?

All help, tips, and recommendations are truly appreciated!

Jacob 

[Scott Allen]

@Adi Jacob

What's a duplex going for in that area of Miami? 

You should find an investor friendly agent to help you write offers on properties but, if you're sourcing properties on your own right now off-market then you'll want to know the contracts you're using inside and out and know what terms you should write to protect you in your offers. 

A buyer's agent represents you and your best interest - talk to about 3-5 before you find one that you feel is a good fit. A seller's agent represents the seller and they're best interest - not yours.

Agents have fiduciary duties that they are bound to when representing a client versus a customer. If you're going directly to a listing agent, just know that they are limited in what they can do to help you and the agency disclosure will most likely say that they are going to represent the seller during the transaction.

With up to $500k for a down payment, you're looking at A Class multi-family in Columbus, OH and larger over 4 unit multi-family in B Class. 

Best of luck!